The Turkish lira touches its lowest level in a week

On Thursday, August 5th, the Turkish lira touched its lowest level against the US dollar in a week on concerns about monetary policy after Turkish President Recep Tayyip Erdogan said interest rates would fall.

The lira hit 8.55 against the dollar, down from a close of 8.48 on Wednesday.

And earlier touched 8.5 against the dollar, its lowest level in a week.

The currency has lost nearly 12% since the beginning of this year.